Port Authority Surpasses Expectations With $5.3M Profit, Approves Security and Runway Upgrades

The Virgin Islands Port Authority reported continued strong financial results for the first half of 2025, with its June 30 financial report showing an operating profit of $5.3 million, well above both last year’s performance and this year’s projections. During Tuesday’s meeting of VIPA’s Governing Board, Chief Financial Officer Ava Penn presented the agency’s financial update, which is calculated on an accrual basis. She noted that the $5.3 million profit compared favorably with the $816,000 operating profit recorded during the same period last year. It also far exceeded expectations, as VIPA officials had projected an overall loss of $1.1 million for the period. Breaking down the results by division, Ms. Penn reported that the aviation sector ended the period with an operating loss of $2.3 million. While in the red, the division still performed significantly better than forecast, which had anticipated a much larger loss of $6.6 million. The marine sector once again proved to be the ...